I’m aware that we as smaller retail investors don’t get shares in IPOs at the issue price and we generally don’t get them at market open on the day they go live. That’s just the way it is. Freetrade and its users know when IPOs are coming, though. My suggestion is that we be allowed to put a limit order in place before a new IPO stock officially hits Freetrade and for it to then go into action when the shares are available to buy. This means that we as users could set things up and make sure funds are in the account and allocated in advance.
For example, company XYZ is due to go live in a week. Freetrade announces this and creates a faux listing, making it clear that this is not yet live. Users can place limit orders and reserve funds. When it becomes available via Freetrade, the limit order becomes active and will execute if market conditions allow. I think have done this previously, but only on a few occasions. I’d like for it to be a common occurrence with all IPOs that they intend to offer, big and small. This might also cut down on the forum posts of “will you have XYZ?!” days before an IPO is due to go live.
Tl;dr: create IPO listings before they’re live as a common thing. Allow us to place limit orders and reserve funds for when the listings go live.
I don’t know if this is technically possible.
Apologies if something similar has previously been suggested.